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Of course though...even though the massive trade imbalance favors China 4:1 and some of our US goods end up having 96% tariffs by the time they get to the Chinese consumer, they are still playing hardball.
"Chinese tariffs that really matter are the ones on US agricultural and manufacturing goods, produced mainly in states with strong support for [President] Donald Trump," said Artur Baluszynski, the head of research at Henderson Rowe. "We just don't see China willing to negotiate on them before the race for US presidential elections really kicks off."
Why should China support trump? He’s never been a friend of China. I hope China works hard to wreck trumps supposedly good economic data.
It appears that Trump is ready to throw in the towel. He is seeing the damage that his tariff strategy is doing to the US economy, and more importantly, to his re-election chances. So he has just announced that he would consider an "interim" trade agreement with China. In other words, get a boost in stocks and hold off the recession until after the election. Will people fall for it?
I don't see any indication that's the case at all. China agrees to lower tariffs; Trump agrees to consider a trade agreement. Doesn't sound to me like he's running for the hills.
The thing many people fail to realize is that the bulk of China's exports can absolutely be made in other countries, and SEA nations are working overtime to lure in companies and operations that are leaving China. China's supply chains are not irreplaceable. Its economy was already trending down due to a variety of reasons and the trade war thus far has only worsened things. The Belt and Road initiative isn't the magic bullet that China pretends it will be, and it's still a ways off from bearing fruits for China other than keeping millions of wifeless laborers who would otherwise be idle and frustrated at home instead working abroad. China has liked to posture itself as having eclipsed the importance of low-grade manufacturing and is now a technological powerhouse but this is BS. Simple manufactures goods are still the backbone of its economy and keep hundreds of millions of people working, and those are the easiest goods to manufacture elsewhere.
If he does its because he is selling out to corporate America short term stock increases.
I hate it and so should you Ponderosa. Don't be fall for the recessions are bad line, they are only bad because pain is thrown on the debtors instead of the financial elite. Look at what HAMP did;
The reason 08-09 was so bad was because the Bush and Obama administration worked to make it so. Endless growth is not the way forward.
Also disentangling our economy from China is amazing, cheap goods and fentanyl doesn't make our country a better place, it destroys it.
"President Donald Trump's top advisers are rushing to find an escape hatch for a series of tariff increases in the coming months, worried about the potential for further economic damage."
"Some (of Trumps) advisers are arguing that the economic hit is real and must be mitigated prior to the election year."
China seems to hold all the cards here. One word, one minor gesture sends the markets shooting up or down. The biggest advantage though is time and the looming US election. If they stick to what matters to them, Trump will eventually have to cave in or a recession will cut his already dismal approval ratings in half.
Trump wins the election today, no approval rating can harm him, that is for certain.
We saw that in November 2016 when his RealClearPolitics average poll was 43.6%!
And what date is that recession? We keep hearing about it, but it never comes.
And like it or not, but Hillary was a more convincing candidate than Biden.
Trump will never bow to China, EVER.
"President Donald Trump's top advisers are rushing to find an escape hatch for a series of tariff increases in the coming months, worried about the potential for further economic damage."
"Some (of Trumps) advisers are arguing that the economic hit is real and must be mitigated prior to the election year."
It appears that Trump is ready to throw in the towel. He is seeing the damage that his tariff strategy is doing to the US economy, and more importantly, to his re-election chances. So he has just announced that he would consider an "interim" trade agreement with China. In other words, get a boost in stocks and hold off the recession until after the election. Will people fall for it?
The great sage Chicken Little once predicted: “The sky is falling!”
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